Illumina, Inc. (NASDAQ:ILMN) Sees Large Growth in Short Interest

Illumina, Inc. (NASDAQ:ILMN) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 6,510,000 shares, an increase of 9.0% from the January 15th total of 5,970,000 shares. Based on an average daily trading volume, of 2,240,000 shares, the days-to-cover ratio is currently 2.9 days.

Illumina Price Performance

Illumina stock opened at $100.24 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $131.80 and its 200 day simple moving average is $134.75. Illumina has a 52 week low of $99.35 and a 52 week high of $156.66. The firm has a market capitalization of $15.90 billion, a PE ratio of -13.05 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. On average, equities research analysts predict that Illumina will post 4.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on ILMN shares. UBS Group upped their price objective on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group cut their price target on Illumina from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Barclays lowered shares of Illumina from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $130.00 to $100.00 in a research report on Monday, February 10th. Guggenheim lowered their target price on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and reduced their price objective for the company from $177.00 to $140.00 in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.45.

Hedge Funds Weigh In On Illumina

Several institutional investors and hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Illumina by 2.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,292,407 shares of the life sciences company’s stock worth $172,704,000 after acquiring an additional 32,270 shares during the period. Vident Advisory LLC grew its position in shares of Illumina by 1,269.2% in the fourth quarter. Vident Advisory LLC now owns 99,348 shares of the life sciences company’s stock valued at $13,276,000 after purchasing an additional 92,092 shares during the period. Spyglass Capital Management LLC acquired a new position in Illumina in the fourth quarter valued at $71,855,000. Triglav Skladi D.O.O. purchased a new position in Illumina during the fourth quarter worth about $1,403,000. Finally, Taconic Capital Advisors LP purchased a new position in Illumina during the fourth quarter worth about $668,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.